Callaway and Topgolf to merge
Callaway and Topgolf today announced plans to merge and become the most digitally connected force in golf.
The move, which unites the top golf equipment seller with the leading tech-enabled golf entertainment business, is set to increase the reach of both companies to players of all abilities.
"Together, Callaway and Topgolf create an unrivaled golf and entertainment business," said Chip Brewer, President and Chief Executive Officer of Callaway.
"This combination unites proven leaders with a shared passion for delivering exceptional golf experiences for all – from elite touring professionals to new and aspiring entrants to the game.”
Dolf Berle, Chief Executive Officer of Topgolf, added: “Topgolf is truly changing the landscape of the industry by making golf more inclusive and accessible to people of all ages, demographics and skill levels.
“As part of Callaway, we plan to grow our leadership position by leveraging Callaway's brand reputation, industry relationships and financial strength to connect more communities around the world to the Topgolf experience."
Off-course participation in the US has grown 70% in the last five years, with much of this growth believed to be fueled by Topgolf.
Prior to the pandemic, Syngenta Growing Golf asked ‘Can Topgolf grow on-course participation?’, with strong evidence and opinion suggesting it had an influential role to play.
Now, with Topgolf’s latest claims that 51% of its guests identify as non-golfers, of which 75% say they are interested in playing on a course following their experience, combined with a merger that is set to accelerate growth (with 10 new venues each year in the US and more internationally), the pipeline of new golfers could be stronger than ever.
The merger is set to be finalized in early 2021.
Read and watch: ‘Can Topgolf grow on-course participation?’